Billionaire raises his stake in Carbacid to 49.9 percent

Billionaire investor Baloobhai Patel has raised his stake in Carbacid Investments Plc to a new high of 49.9 percent as the company’s profits soared.

The firm’s latest annual report shows that Mr Patel made the additional share purchases in the year ended July, boosting his ownership from 40.38 percent a year earlier.